Avesthagen-CIPLA JV Acquires State of the Art Biological Company in Germany
Avesthagen-CIPLA JV acquires state of the art biological company in GermanyBANGALORE, India, Oct. 5, 2007--Avesta Biotherapeutics and Research Pvt. Ltd. (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (of CIPLA group), announced the acquisition of Siegfried Biologics GmbH, a fully owned subsidiary of the Siegfried Group in Switzerland.
ABRPL, based in Bangalore, will manufacture a series of biopharmaceuticals for the global markets with an initial focus on the BRIC markets. This acquisition fits into the strategy of being able to to manufacture under USFDA and EMEA compliant conditions. The facility is expected to initially focus on biopharmaceuticals that are presently under development at Avesthagen through the Avesthagen-Cipla joint venture agreement that was signed in May 2004.
Siegfried Biologics GmbH, based in Berlin Germany, was started 10 years ago as a contract manufacturing organization (CMO). The 50 plus team of people has a solid background and extensive experience in the development of biologics from cell line generation, upstream process development and scale-up to GMP manufacturing.
This acquisition will add process development and GMP manufacturing capabilities to the technology development prowess of Avesthagen and Cipla's marketing expertise to further strengthen ABRPL’s impact on a market presently dominated by small chemical entities. The Indian biopharmaceutical business, presently estimated at $1.5 billion is expected to grow to about $5 billion by 2010, dominated by recombinant proteins, vaccines and monoclonal antibodies.
Villoo Morawala Patell, Founder, Vice Chairperson and Managing Director of Avesthagen, commented “Avesthagen’s foray into the European market with its partner Cipla will bring a new dimension in cross-border technology development and bring cost-effective drugs to the global market at the right time and at the right price”
About ABRPL
Avesta Biotherapeutics and Research Pvt. Ltd. (ABRPL), a joint venture (JV) between Avestha Gengraine Technologies Pvt Ltd (Avesthagen) and Meditab Specialities Ltd (of CIPLA group). The JV, ABRPL, based in Bangalore, will manufacture a new generation of targeted therapies and for production of biopharmaceuticals in India. In addition, the venture will exploit opportunities in Biologicals Contract Manufacturing worldwide - a fast expanding growth segment in the pharmaceuticals arena.
The synergistic win-win Avesthagen-Cipla umbrella tie-up is in line with similar deals seen in mature US markets. The technology development prowess of Avesthagen is complemented by Cipla's marketing strengths. This tie-up strengthens the growing impact of biopharmaceuticals on a market presently dominated by chemical entities.
The drug development partnership, which focuses on development of biopharmaceuticals in the area of autoimmune disorders and cancers, is expected to widen. The partnership is ongoing and the release of the first biotherapeutic product is expected to be on the market in early 2009.
About Siegfried
Active in Life Science markets, the Siegfried Group is a global manufacturer and pharmaceutical products. With production facilities located in Switzerland, Germany, Malta and the USA, Siegfried currently has approximately 950 employees and achieved annual sales of approx. CHF 320 million in 2006. The Siegfried Holding AG is listed on the Swiss Exchange in Zürich (SWX: SFZN).
Siegfried integrates two pharmaceutical business units. Siegfried Actives develops and produces both exclusive active pharmaceutical ingredients for the pharma industry and standard APIs. Siegfried Generics produces complex generic products.
For further information:
Manan Bhatt
Avesthagen
Sr. Vice President - Communications and External Relations
Tel: +91-80-2841 1665/2308 Fax: +91-80-2841 8780
E: manan@avesthagen.com> manan@avesthagen.com
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